Neobe Therapeutics has raised a US$6.8 million (£5 million) Seed round to develop engineered bacteria for cancer treatment. The Stevenage, UK company creates living medicines that break down barriers around solid tumors. ARC Ventures led the round.
Funding so far
The round included Faber, Macmillan Ventures, Proven Connect, and Empirical Ventures. Pre-Seed backer 2048 Ventures also made a follow-on investment. Neobe's total funding now exceeds US$10.5 million.
Company context
Neobe was founded in 2021 as a bioengineering company based in Stevenage. It engineers harmless strains of common bacteria into programmable living medicines. The company is developing treatments for solid tumors.
What the bacteria do
Once injected, the bacteria travel specifically to tumors. They release enzymes that dissolve the dense fibrous matrix around the cancer. In one study, a single dose produced complete tumor regression in a triple negative breast cancer model.
Neobe will use the funding to advance its lead program NEO22 through preclinical studies. The company plans an IND filing in 2028. It has also hired Dr Laura Chow as Chief Medical Officer to oversee clinical development.